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US Stocks continue to reach to all-time highs

US Stocks continue to reach to all-time highs

US Stocks continue to reach to all-time highs

US indices continue to reach all-time highs, as we have seen a massive amount of momentum going into the weekend. The markets have been very noisy as of late. The markets are pricing in a massive reopening situation, which makes sense as the majority of the world is done with lockdowns. The overall attitude through the earnings season has been very strong, so that of course helps equity bulls going forward. At this point, it looks as if the fate of the stock markets lies in much higher pricing more than anything else, especially in the United States.

 

The NASDAQ 100 has made all-time highs again, and therefore it does seem realistic to believe that we would see follow-through on the other indices. The Dow Jones Industrial Average certainly looks as if it is ready to do the same, and of course the S&P 500 has made over 50 all-time highs this year alone.

Stockpiles of oil continue to shrink

Stockpiles of oil continue to shrink

Crude oil markets have gained roughly 11% during the month, on signs that consumption still outpaces supply, and of course the specter of draining stockpiles continues to be a major issue. Because of this, it is very likely that the crude oil rally still continues through the end of the year. Futures have been edging up every time they pull back, as the demand has been skyrocketing from both a consumption standpoint and the futures market as well.

 

The crude oil trade has been the strongest one all year and going into the winter months there has been major demand on the stockpile, as energy producing corporations have to use crude oil in place of other such forms of energy like natural gas. This is especially true in the European and Asian countries, and it looks as if there is no reprieve coming anytime soon. Beyond that, a self-imposed moratorium on production of crude oil in the United States has only tightened what has already been a very tight crude supply.

Biden pitches $1.75 trillion plan

Biden pitches $1.75 trillion plan

President Joe Biden has met with House Democrats to try and convince them to support a much smaller version of the “Build Back Better” plan. Originally slated at being as high as $3.5 trillion, the new version is $1.75 trillion, and is suggested as a “framework.” The negotiations have been tough between some of the more moderate Democrats and the progressives, but as the Republican Party has held fast, there has been much consternation between Democrats to get the bill together. The infrastructure bill is one of the big highlights of the Biden agenda, and at this point with the nosedive in polls, this is a situation that needs to be rectified rather quickly if the Democrats have any hopes of retaining leadership in Congress during the midterms next year. With this, spending in the United States is likely to be much lower than originally anticipated when it comes to various forms of infrastructure.

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